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Gold prices rise after sweeping tariffs

ByVictoria

Gold rose after President Donald Trump delivered on threats to hit Canada and Mexico with sweeping tariffs and doubled a charge on China, spurring swift reprisals.

Bullion climbed above $2,915 an ounce as Beijing announced 15% duties on some American farm goods, including cotton. Geopolitics was also in the spotlight after the US paused all military aid to Ukraine.

Spot gold rose 0.8% to $2,914.45 an ounce at 10:45 a.m. in London. The Bloomberg Dollar Spot Index fell 0.2%. Silver and palladium gained, while platinum was little changed.

Source – Bloomberg

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Gold eases, Investors wait for US inflation data

ByVictoria
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Gold eased on Wednesday as the dollar ticked up, while investors awaited U.S. inflation data to gauge the Federal Reserve’s rate cut path amid trade tensions and economic slowdown fears and market focussed on news of a potential Ukraine-Russia ceasefire.

Spot gold fell 0.2% to $2,908.93 an ounce as of 0720 GMT, while U.S. gold futures lost 0.2% to $2,908.93.

“Gold is operating in ‘consolidation mode’ ahead of the next batch of U.S. inflation data,” KCM Trade chief market analyst Tim Waterer said.

“I expect gold to remain a favoured asset whilst investors are concerned about tariff wars and growth slowdowns. So, the bias for gold remains to the upside due to ongoing tariff dramas,” Waterer said.

Spot silver shed 0.7% to $32.70 an ounce, platinum rose 0.7% to $981.29 and palladium slipped 0.8% to $938.00.

Source – Reuters

Gold-scammer jailed for 6.5 years

ByVictoria
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A California man was sentenced to 6½ years in prison Tuesday for his role in ongoing “government impostor” gold-bar scams that are costing Americans millions every year.

“This is a national epidemic,” prosecutor Hannah Gleason said in a courtroom in Montgomery County, Maryland, which has been hit hard by the complex frauds. “These are highly organized criminal organizations.”

The case at hand cost a 64-year-old woman, living in Montgomery’s Leisure World community, $789,000. She had counted on the savings to fund the medical needs of herself and other family members and now fears she may lose her home, Gleason said.

“She worries about her financial security and financial health,” Gleason said. “This has caused great emotional distress and impact to her, and has led her to believe she can’t trust people.”

Source – The Washington Post

Please be careful out there everyone. People are getting scammed everyday and our older community are the targets…usually. It’s really unfortunate for this lady who knows how many others have had this happen to them too. Be safe! – V.

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Silver Tightness Pushes Silver Prices And The SILJ ETF Higher

ByVictoria
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Silver is more volatile than gold. Monthly historical volatility in the COMEX silver futures market is at 19.88%, while gold’s monthly price variance metric is 10.45%. Silver’s penchant for high price volatility attracts more speculative market participants than gold. While gold is an investment asset, silver tends to be a trading vehicle.

Source – Seeking Alpha / Analysis

SILJ – is Amplify Junior Silver Miners

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$13 billion in Idaho gold. A mineral critical to U.S. defense.

ByVictoria
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“We’ve interdeveloped or interwoven cleanup of these legacy impacts with modern, responsible mining activity,” Mckinsey Lyon, spokesperson for Perpetua Resources, told the Idaho Statesman. “And we’ve done that because we’re so serious about our commitment that we can leave this place better.”

“Perpetua has a really glamorous vision for what the site is going to look like afterwards, and I hope that’s successful,” John Robison, public lands and wildlife director with the Idaho Conservation League, told the Statesman. “I don’t see that from the mine plan.”

“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Perpetua’s president and CEO, said in a statement. “The Stibnite Gold Project can deliver decisive wins for our communities, the environment, the economy, and (U.S.) national security.”

Source – Idaho Statesman

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Aya Gold & Silver Announces January 2025 Fourth Quarter Production Results

ByVictoria
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“I am pleased to announce Q4-2024 and January 2025 production results, achieving 2024 production guidance and highlighting a significant step-change in output and an 77% month-over-month increase from December 2024 to January 2025. This strong performance is driven by improving recoveries and the successful ramp-up of the new Zgounder plant, which is operating above nameplate capacity, alongside the open pit, which continues to exceed expectations,” stated President & CEO Benoit La Salle. “Month-over-month improvements across the integrated operations at Zgounder reflect disciplined execution and operational strength, positioning us for sustained production growth and record profitability in 2025.”

Source – Globe Newswire / Yahoo Finance

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Gold spot fell and investors waiting for data on Friday

ByVictoria
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Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

“Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

Source – Reuters